EVRAZ announces financial results for 2008

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EVRAZ announces financial results for 2008

April 28, 2009 – Evraz Group S.A. (LSE: EVR) today announces its audited financial results for the year ended 31 December 2008.

Highlights for FY 2008:


  • Revenue advanced 58.5% to US$20,380 million reflecting strong pricing during the first three
    quarters of the year, acquisitions and an improved sales mix
  • Consolidated adjusted EBITDA rose 46.9% to US$6,323 million
  • Net profit attributable to equity holders of Evraz Group S.A. decreased by 11.2% to
    US$1,868 million affected by significant one-off charges and write-downs totalling
    US$1,857 million and the challenging market environment in the fourth quarter of 2008
  • Operating cash flow increased by 52.6% to US$4,569 million, reflecting higher profit and the
    ongoing focus on working capital management


  • Crude steel production increased by 7.1% year-on-year to 17.7 million tonnes
  • Total steel sales volumes rose 3.9% to 17.0 million tonnes
  • Revenues of vanadium segment increased by 106.9% to US$1,206 million
  • Sales volumes of vanadium products rose 18.9% year-on-year to 26,400 tonnes in vanadium


  • Iron ore self-coverage of 93%
  • Coking coal self-coverage of 89%

Corporate developments and acquisitions:

  • Acquisition of Claymont Steel for US$420 million completed in January
  • Acquisition of IPSCO Canada for US$2,450 million completed in June
  • Acquisition of select Ukrainian assets for US$1,110 million and 4,195,150 new Evraz shares
    completed in September
  • Successful bond placements totalling US$2.0 billion completed in April and May

Full text of the press release please download here.

Please download FY2008 Consolidated Financial Statements in Investor Relations section.


For further information:
Evraz Group S.A.
Alexander Boreyko
Investor Relations
+7 495 232 1370